[Placing Contingent Order to Sell LEAPS on Reynolds American (RAI)/Selling Jan '07 90 Calls (OWOAR) Contingent on RAIStock going below $93.17/Good 'til Cancelled]
Dear Member,
The price of the Jan '07 90 LEAPS Calls (OWOAR)has moved up nicely. I am now attempting to protect profit in the position and am placing a contingent order to sell those LEAPS. The order is as follows: contingent on RAI stock below $93.17, sell the Jan '07 90 LEAPS calls (OWOAR), good 'til cancelled.
If the stock continues up, I will be moving my contingent order up behind it. If it drops, I should be stopped out for a decent short term profit.
DISCLOSURE: At the time of publication, I own the Jan '07 LEAPS calls on RAI.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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